Knicks won't match Lin offer

July, 17, 2012
7/17/12
11:35
PM ET


Houston, you can have him.

That was the message the Knicks sent on Tuesday when they decided not to match Jeremy Lin's three-year, $25.1 million offer sheet from the Rockets.

The team announced its decision Tuesday night, confirming several reports that surfaced over the weekend stating that the Knicks would not match Lin's offer.

"Much love and thankfulness to the Knicks and New York for your support this past year...easily the best year of my life#ForeverGrateful," Lin tweeted Tuesday night.

"Extremely excited and honored to be a Houston Rocket again!!#RedNation," Lin added in another tweet.

A team source told ESPNNewYork.com earlier this week that the third year of the Rockets' offer -- worth $14.8 million -- caused the Knicks to consider letting Lin go. If the Knicks matched the offer, they would have been subject to a luxury tax in the third year, potentially bringing their total out-of-pocket cost for the team's salary to about $43 million in 2014-15.

The Rockets' offer to Lin would pay him $5 million in the first year, $5.225 million in the second and $14.8 million in the third, according to sources.

The Knicks will turn to Raymond Felton at point guard. Felton was acquired in a sign-and-trade announced on Monday.

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TEAM LEADERS

POINTS
Carmelo Anthony
PTS AST STL MIN
23.9 3.4 0.6 35.7
OTHER LEADERS
ReboundsA. Stoude... 7.4
AssistsJ. Smith 3.5
StealsJ. Calderon 2.0
BlocksS. Dalembert 1.4